Your Questions About Debt-free

Nancy asks…

Debt Free Helpline?

Hi,
I know this seems kind of a long question, but i need to explain the whole situation, please stick with me as i realy would appreciate your help.

Ive stupidly managed to get myself into quite a bit of debt, (£7500) and it has been the cause of a lot of stress for me recently. I have been rejected loans because of poor credit file (missing payments on cards) and cant keep up with everything.

I was neary stung by ‘yes loans’ today, they said they accepted me for a loan which once i had the money would have paid off all my other debts leaving me with a relatively low payment to yes loans a month. they asked me for a payment of £50 up front for this, which is when i realised they are a scam and didnt have a loan for me, but wanted £50 to search for a loan, although they didnt tell me this.

Luckily i realised in time and didnt pay the £50 (Since checking yahoo answers ive realised just how lucky i am as lots of others have been caught by them DO NOT USE ‘YES LOANS’)

So….
… I still had my big debt problem, so I phoned the ‘Debt Free Helpline’ who someone on yahoo answers had recommended on someone else’s question. They can speak to creditors and can bring all my debt down to just £236 a month for 3 years by freezing my interest. This would clear everything, which in the position I’m in now, is unthinkable in only 3years. Also, they have not asked for any money up front to do this like other scammers!!

So my question (eventually) is has anyone ever used the ‘Debt Free Helpline’ before, or very similar help, and how did you find it?

Any advice would be fantastic, thank you.

John answers:

Debt Free Helpline appears to be a commercial company so, somewhere along the line, you’re going to have to pay for their services!
If you want truly free independent help then call CCCS (Consumer Credit Counselling Service – http://www.cccs.co.uk/) or go to your local Citizens Advice Bureau – http://www.adviceguide.org.uk/ . Both of these are charities and their advice will cost you nothing.

Thomas asks…

What are the best debt free tips?

John answers:

One debt free tip is to find a professional that can help you get out of debt.You should also seek free counseling to help you get debt free. You should get or put yourself on a monthly bill.

Donald asks…

is Arsenal debt free?

It was always talk about debt neally over, is Arsenal really debt free yet?

if they are not how much is there left..

John answers:

Debt free no

our stadium debt runs out in 2032

but we have enough in reserves to pretty much cover it’s deferred value

Essentially we are 1 year from being theoretically debt free

Daniel asks…

I am going to be debt free….?

I will also have a $10,000 car paid off.. but I’ll only have $20,000 in savings when I first get married.. is that enough? or should I hold off on the marriage until I’m able to save more?? Any advice would be greatly appreciated. THANKS! :)
I almost feel like I shouldn’t get married until I have AT LEAST $30,000 saved up. Do you agree with that?
I don’t think my girlfriend is wanting to work much when we get married because I think she wants to start a family, so I need all the money I can get.
I haven’t even graduated from college yet, but I only have one and half more years.
I haven’t even graduated from college yet, but I only have one and half more years.
I haven’t even graduated from college yet, but I only have one and half more years.

John answers:

I think you are getting hung up on some arbitrary number…. 20K or 30K, it doesn’t make that much difference.

An important thing is, you are getting ready for marriage and you made sure you are debt free. You also have enough savings that will get you through about 6 to 12 months of rough time, should you need it.

I think you should pat yourself on your back for having enough sense to be debt free before marriage, and even have emergency fund ready.

From there, work together with your future wife to build up your savings.

John asks…

does anyone else like being debt free?

i just paid of my credit card after one year and i feel so happy about it now. i feel like a huge weight has been lifted off my shoulders. anyone else?

John answers:

Yes, I like it. Being debt free is nice. When you have no payments, guess what? On payday, you get to KEEP some money and not sent it out to everyone else!

What a great concept! 😉

Now, being debt free and having money in the bank for emergencies… That is really cool.

I am not “normal”.. I have MONEY! Normal is broke. Be weird.

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